Square Enix is working on an original console RPG planned for release in 2016. The company showed off some early concept art for the all-new project, codenamed Project Setsuna, at its E3 2015 press conference.
Square was super cagey on details, though it did reveal that it's under development by a new studio called Tokyo RPG Factory. The concept art had a pastel feel, showing a world of natural beauty interrupted by strange machines - so definitely a JRPG then.
Square didn't say when we'll hear more about Project Setsuna - apparently it's already decently far along into active development, so hopefully we won't have to wait too much longer for solid details.